Green light for New Myer strategy.

Incoming Myer chairman, Garry Hounsell (pictured) has thanked the company’s shareholders for their strong show of support for election of three new board members and the endorsement of the New Myer strategy.

Hounsell, along with JoAnne Stephenson and Julie Ann Morrison, were all elected to the board by a clear majority.

“Myer’s shareholders have spoken and as chairman of the company, I am delighted with the clear mandate we have received to continue with the implementation of the New Myer strategy. With Christmas trading upon us and heightened competition it has never been more important that we get on with the job our shareholders have asked us to do. Myer shareholders’ wishes are clear, all parties should now respect the outcome,” Hounsell said.

He also noted the special resolutions, including the advisory resolution on the company’s remuneration report had not received 75% of votes cast and said the company would continue to liase with all stakeholders.

“During the past year Myer continued to make strong progress across each of the key priorities of our New Myer strategy. This has made us a more efficient and resilient business, which has in turn helped us to confront the challenging retail trading conditions. We are rapidly evolving and adapting this strategy in response to changing customer preferences, particularly their online engagement and shopping habits.